Target Correlations

CBDY Stock

USD 0 0.0003 14.29%

The current 90-days correlation between Target Group and Aequus Pharmaceuticals is 0.17 (i.e., Average diversification). The correlation of Target is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Target Correlation With Market

Average diversification

The correlation between Target Group and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Target could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Target when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Target - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Target Group to buy it.

Moving together with Target Pink Sheet

0.65	TKPHF	Takeda Pharmaceutical	Pair Corr
0.74	TAK	Takeda Pharmaceutical Sell-off Trend	Pair Corr
0.76	HLN	Haleon plc	Pair Corr
0.73	HLNCF	Haleon plc	Pair Corr
0.64	FARM	Farmer Bros	Pair Corr
0.69	AONNY	Aeon Co	Pair Corr

Moving against Target Pink Sheet

0.72	TEVA	Teva Pharmaceutical	Pair Corr
0.72	TEVA	Teva Pharma Industries	Pair Corr
0.56	ENMI	Energy Management	Pair Corr
0.53	QMCO	Quantum Trending	Pair Corr
0.36	CHNXF	ChitogenX	Pair Corr
0.35	MKGAF	MERCK Kommanditgesells Downward Rally	Pair Corr
0.34	MKKGY	Merck KGaA ADR	Pair Corr
0.51	MVST	Microvast Holdings	Pair Corr
0.47	SES	SES AI Corp	Pair Corr
0.36	FUAPF	Global Cannabis Appl	Pair Corr

Related Correlations Analysis

	CBDNF	MGCLF	AQSZF	FLHLF	SKYI	LVTTF	BCBCF	AXRX	ANTCF
CBDNF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBDNF
MGCLF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MGCLF
AQSZF	0.0	0.0		0.5	0.31	0.0	-0.05	0.0	0.08	AQSZF
FLHLF	0.0	0.0	0.5		0.31	0.0	0.47	0.0	0.43	FLHLF
SKYI	0.0	0.0	0.31	0.31		0.0	0.15	0.0	0.17	SKYI
LVTTF	0.0	0.0	0.0	0.0	0.0		0.0	1.0	0.0	LVTTF
BCBCF	0.0	0.0	-0.05	0.47	0.15	0.0		0.0	0.35	BCBCF
AXRX	0.0	0.0	0.0	0.0	0.0	1.0	0.0		0.0	AXRX
ANTCF	0.0	0.0	0.08	0.43	0.17	0.0	0.35	0.0		ANTCF
	CBDNF	MGCLF	AQSZF	FLHLF	SKYI	LVTTF	BCBCF	AXRX	ANTCF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AXRX	+ 1.0	LVTTF
FLHLF	+ 0.5	AQSZF
BCBCF	+ 0.47	FLHLF
ANTCF	+ 0.43	FLHLF
ANTCF	+ 0.35	BCBCF
SKYI	+ 0.31	AQSZF

High negative correlations

BCBCF	- 0.05	AQSZF
ANTCF	- 0.0	AXRX
AXRX	- 0.0	BCBCF
ANTCF	- 0.0	LVTTF
BCBCF	- 0.0	LVTTF
AXRX	- 0.0	SKYI

Risk-Adjusted Indicators

There is a big difference between Target Pink Sheet performing well and Target Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Target's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CBDNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MGCLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AQSZF	4.08	0.06	0.00	0.15	8.39	(27.00)	5.13	(20.41)	121.28
FLHLF	13.14	0.55	0.03	0.75	15.61	(16.55)	31.43	(27.27)	95.82
SKYI	9.87	1.42	0.05	(0.49)	12.89	(37.95)	56.25	(36.00)	125.49
LVTTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCBCF	6.02	(0.31)	0.00	(0.44)	0.00	0.00	17.78	(14.49)	72.91
AXRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ANTCF	19.55	7.73	0.20	1.29	10.97	(222.24)	0.00	(28.00)	546.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Target without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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